Career and Succession Management for Banking, Financial Services and Insurance
Named backups for the roles that cannot be vacant.
What this looks like in banking, financial services and insurance
The parts of career and succession management that are specific to this sector, rather than general.
Progression Beyond the Sales Target
Where the only visible route is a bigger number.
What this coversHide
Progression Beyond the Sales Target
Where the only visible route is a bigger number.
What this coversHideIn sales-led financial services the career conversation is frequently just a larger target. High performers who do not want to manage, or who have plateaued in a territory, leave for the same role elsewhere at a higher salary.
- Route from sales into training, product or operations
- Team-lead role defined as management, not as a bigger patch
- Branch and cluster leadership succession mapped
- Specialist routes for underwriting, credit and compliance
- Criteria for progression stated rather than discretionary
- Successors named for every branch and cluster head
- Readiness development started before the vacancy exists
Branch leadership succession is the gap that hurts most. A branch head exit with no identified successor is usually filled by promoting the strongest salesperson, which costs the business its best producer and creates an untrained manager.
The general method — what career and succession management covers, the questions it answers and what an engagement produces — is the same whatever the sector, and is set out on the succession and leadership development page. What is above is the part that differs for banking, financial services and insurance.
Other HR topics for banking, financial services and insurance
Where to start
Most engagements begin with a review of how this runs in your business today, then a written process and the sequence to implement it.
See all HR topics for banking, financial services and insurance, or another industry.